Leadership vacuum: Malaysian auto tsar's death puts empire up for grabs

Article Abstract:

The death of Yahaya Ahmad, controlling sharholder in Diversified Resources Berhad-Hicom of Malaysia, has rendered DRB-Hicom's future uncertain. Yahaya had stakes in the auto industry, banking, finance, public transport and manufacturing. He had been preparing Proton, which is owned by DRB-Hicom, to compete internationally and had already cut costs and made major investments to achieve economies of scale. It is thought that group managing director Saleh Sulong will take over management, but many believe there will be a bidding war for his Yahaya's empire once the Islamic Court determines how his assets should be shared.

Diversified Companies, Conglomerate corporations, Diversified Resources Bhd.

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Future on hold: Malaysian tele-broking service upsets old order

Article Abstract:

Phileo-Allied's PALDirect has brought automated banking and brokerage services to Malaysia's small investors, but has also drawn the Kuala Lumpur Stock Exchange's wrath. Phileo's chief, entrepreneur Tong Kooi Ong, uses two segments of his group to evade KLSE rules. PALDirect hooks callers with phones or computers to AlliedBank; if they want to buy stock, it will forward the order to Phileo Securities. The furor involves a commission to the bank that is rebated to the customer, and the use of bank branches.

Security brokers and dealers, Securities Brokerage, Securities dealers, Stockbrokers, Securities industry, Kuala Lumpur Commodity Exchange

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